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Shares Of NAK Now Oversold

Written by: MetalsChannel.com06/25/13 - 4:08 PM EDT

Tickers in this article:
NAK

In trading on Tuesday, shares of Northern Dynasty Minerals Ltd. entered into oversold territory, changing hands as low as $1.94 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Northern Dynasty Minerals Ltd., the RSI reading has hit 28.5 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 35.7, the RSI of Spot Gold is at 28.0, and the RSI of Spot Silver is presently 27.5.

Looking at a chart of one year performance (below), NAK's low point in its 52 week range is $1.94 per share, with $5.40 as the 52 week high point — that compares with a last trade of $1.96. Northern Dynasty Minerals Ltd. shares are currently trading off about 4.8% on the day.

According to the ETF Finder at ETF Channel, NAK makes up 2.33% of the Copper Miners ETF which is trading higher by about 0.5% on the day Tuesday.